MONEY AND MARKETS

Southland Times, Issue 23544, 25 June 1938, Page 4

MONEY AND MARKETS

RESTRICTED BUSINESS ON INVERCARGILL EXCHANGE

Although the metal market has improved and there is a better tone for some industrial lines, business is still somewhat restricted on the Invercargill Stock Exchange. Banks were rather lifeless, the only inquiry yesterday coming for New Zealands (both issues) and Nationals, the latter being steady with buyers at £2 14/-. In the industrial section, improved support came for Broken Hill Proprietaries and there was a better inquiry for Woolworths’ shares. Oils were active and metals firmer, Broken Hills, Mount Lyells, Zincs and Mount Morgans all holding late rates.

FOREIGN EXCHANGES (British Official Wireless) (Received June 24, 6.30 p.m.) LONDON, June 23. The following mean closing rates for foreign exchanges were quoted today com-

Quotations were: — GOVERNMENT DEBENTURES Buyers Sellers £ s d £ s d Stock, 3J p.c„ 1938-52 102 0 () Stock, 31 p.c.. 1939-52 — 102 0 0 Stock, 4 p.c., 1946 102 10 0 Bonds, 4 p.c., 1946 102 10 0 Stock, 4 p.c., 1949 103 0 0 Bonds, 4 p.c., 1949 Stock, 4 p.c., 1955 102 0 0 103 0 >9 Bonds, 4 p.c., 1955 11)4 U BANKS Commercial 0 15 11 Commercial of Sydney 21 0 0 National of New Zealand 2 14 0 New South Wales 32 0 0 New Zealand 2 3 0 2 3 9 New Zealand long “D” issue ’ 1 9 3 — breweries N.Z. Breweries 2 0 6 2 1 9 Dominion Breweries 1 17 3 COAL Westport Coal 14 0 1 5 0 Westport-Stockton (pref.) 0 6 9 INSURANCE National 0 17 4 0 17 10 South British 2 6 3 Standard 2 15 0 2 17 6 LOAN AND AGENCY Dalgety and Co. 8 2 6 Goldsbrough, Mort and Co. 1 7 0 Wright, Stephenson . (pref.) 1 1 0 MEAT COMPANIES N.Z. Refrigerating (20/- paid) 0 19 0 (10/- paid) 0 8 4 0 8 5 Southland Frozen Meat 1 9 3 1 10 3 South Otago Freezing Co. 5 11 0 SHIPPING Huddart-Parker 2 6 6 Union Steam Ship Co. (pref.) 1 6 0 1 7 0 *' WOOLLEN MILLS Bruce .0 5 0 .' ■ MISCELLANEOUS Broken Hill Pty. 2 17 6 — Colonial Sugar Co. » - 47 5 0 G. J. Coles 4 O 0 D.I.C. (ord.) 0 14 3 D.I.C. (pref.) 1 3 3 Dominion Fertilizer 1 4 6 Dominion Rubber Co. ) — 1 5 0 Donaghy'S Rope and Twine ■— 2 G 0 Hume Pipe (Aust.) 0 19 6 Milbum Lime and Cement — 1 17 3 McKenzies, Ltd.> 2 19 0 3 4 0 N.Z. Drug 3 7 6 N.Z. Fanners’ Fertilizers 0 18 9 N.Z. Guarantee Corporation 0 4 Permanent Building Society 5 16 0 Wilson’s (N.Z.) Cement 0 lb 6 Woolworths (N.Z.) 1 0 0 1 1 0 Woolworths, Ltd. 1 0 0 1 0 9 MINING Broken Hill South 1 7 0 —- Big River 0 1 0 0 1 3 Electrolytic Zinc (ord.) 1 16 0 (pref.) 2 0 Gillespie’s Beach 9 0 0 10 Goldfields Dredging 0 0 4 Martha Gold Mining 0 11 9 Mount Lyell 1 4 0 Mount Morgans 0 8 9 Nokomai 0 2 0 Waitahu 0 0 8 Waipapa 0 0 1 North Broken Hill 1 18 6 Taranaki Oil 0 13 3 Moturoa Oil 0 5 8 — AUCKLANI ) £ s d Commercial Bank of Australia 15 8 Newton King (pref.) (2) 9 0 Westport Stockton (pref.) 6 9 Auckland Gas 1 0 5 N.Z. Breweries 2 1 Broken Hill Propty. 2 18 6 Claude Neon ,N.Z.) 1 4 6 Colonial Sugar (2) 46 7 6 Milne and Choycc (debs.) 14 6 N.Z. Drug 3 8 3 N.Z. Newspapers 1 15 0 Taranaki Oil 13 8 do. 13 9 do. 14 6 do. 14 7 do. (2) 14 8 Wilson’s Cement 16 4 Broken Hill South 1 8 3 Mount Morgan 9 2 do. 9 4 do. 9 3 do. 9 6 do. 9 9 Wellington Alluvials 5 7 Mount Lyell 1 6 0 WELLINGTON £ s d 312 P.c. Inscribed Stock 1939-43 (Thurs.) 100 5 0 Bank of N.Z. 6'/ a p.c. debentures 1929 (Thurs.) 102 0 0 Electrolytic Zinc (ord.) (Thurs.) 1 17 9 do. (pref.) (Thurs.) 2 3 3 G. J. Coles (Thurs.) 4 1 7 Mount Lyell (Thurs.) 1 4 6 312 p.c. Inscribed Stock 1939-4! 100 5 0 3',2P.c. Stock 1938-52 101 5 0 4 p.c. Stock 1949 102 10 0 Bank of Australasia 9 14 0 National Insurance 17 5 N.Z. Breweries 2 I' 3 Broken Hill Propty. 2 19 6 Colonial Sugar 46 12 6 G. J. Coles 4 1 4 Taranaki Oil 13 8 do. . 14 0 do. 14 1 Woolwotchs Ltd. (ord.) 1 0 6 Mount Lyell 1 5 4 >,4 do. 1 5 6 Mount Morgan (2) 9 6 Overseas List Woolworth’s Holdings 15 7 CHRISTCHURCH £ s d N.Z. Guarantee Corporation 4 5 Felt and Textiles 1 10 3 N.Z. Breweries (ode. lot) 2 1 0 Booth Macdonald (pref.) 2 0 British Tobacco (cum. div.) 2 6 6 Broken Hill Propty. (2) 2 19 6 Colonial Sugar (2) 46 15 0 Electrolytic Zinc (pref.) (4) 2 5 6 G. J. Coles (cum. div.) 4 1 5 do. (2) 4 2 0 Moturoa Oil (2) 5 8 Taranaki Oilfields 13 9 do. 14 6 Woolworths (Syd., ord.) (4) 1 0 6 Goldfields Dredging 2'/a

Broken Hill South 1 10 0 Mount Lyell 1 5 3 Mount Morgan (pum. div.) (3) 9 4 do. 9 4% do. (2) 9 5 do. 9 5’/ 2 do. 9 6 do. (2) 9 5>,4 do. 9 5 do. 9 5>/a do. (2) 9 9 do. (2) 9 9’,4 North Broken Hill (cum. div.) 2 1 5 Sales Reported Southland Frozen Meat 1 9 9 Westport-Stockton Coal (pref.) (2) 6 9 N.Z. Breweries 2 1 0 N.Z. Farmers Co-op. Wi P-c. stock 1955) 91 10 0 N.Z. Newspapers 1 15 0 DUNEDIN £ s d Broken Hili'Propty. 2 19 0 Sales Reported National Insurance 17 6 N.Z. Drug (odd lot) 3 8 3 Sales After Call North Broken MUI 2 3 3 Mount Morgan (2) 9 11 SYDNEY (Received June 24, 8.35 pm.) SYDNEY, June 24. The Stock Exchange is without material change and generally steady. Barrier stocks are in good demand at improving prices. Taranaki Oil rose to 14/4, and reports or extensive beneficial rain in all parts or me country stimulated pastorals. Sales: — £ s d Bank of New South Wales 31 7 6 Commercial Banking of Sydney 20 12 0 Bank of Australasia 9 15 0 United Insurance 9 17 0 Mercantile and Mutual 1.10 0 Huddart Parker 2 5 6 British Tobacco 2 7 3 Tooth’s Brewery 2 14 9 Australian Glass 4 11 3 Dunlop Perdriau Rubber 1 0 10 W. Adams 15 9 Warburton Frankl 1 0 0 Woolworths 1 0 6 Woolworths (rights) 3 3 R. Fowler 11 3 Winchcombe Carson 2 0 Henry Jones 2 7 6 Electrolytic Zinc 1 14 6 Electrolytic Zinc Xpref.) 2 5 6 Mount Morgan 9 10 Mount Lyell 1 6 6 Placer Development 3 18 6 Taranaki Oil 14 4 MELBOURNE Further rises overseas caused leading industrials and barriers to develop a strong tone but other stocks are not showing much change. Sales:— £ s d Commercial Bank-of Australia , 15 11 National Bank (£5 paid) 6 11 0 National Bank <£10 paid) 13 6 0 Adelaide Steam 1 14 0 Drug Houses 1 5 0 Australian Iron and Steel (pref.) . 1 7 6 Australian Glass 4 11 6 Dunlop Perdriau Rubber 1 11 0 Australian Paper (pref.) 1 4 3 Cox Bros. 15 3 Yarra Falls 1 18 0 Electrolytic Zinc (pref.) 2 4 6 Mount Morgan 9 11 Mount Lyell 1 6 3 Broken Hill Proprietary 2 19 9 North Broken Hill 2 3 6 South Broken Hill 1 11 0 Zinc Corporation 4 2 O Emperor 12 5 Loloma 1 2 4

pared with par:— 'j 1 Par Today Paris, fr. to £ 124.21 177 59-64 New York, dol. to £ 4.886 4.9534 Montreal, dol. to £ 4.886 5.01 Milan, lira to £ 20.43 94’,4 Copenhagen, kr. to E 18.159 22.40 Oslo, fr. to £ 19.159 19.20 Berlin, rmk. to £ 20.42 12.30% Prague, kr. to £ 34.585 1423a Helsingfors, m. to £ 103.23 226% Madrid, pesetas to £ 25.15 ■ ■■ Lisbon, escudos to £ 110 110 3-16 Athens, dr. to £ 875 547’,4 Bucharest, lei to £ 318.6 672 >,4 Belgrade, dinars 275.3 217 Rio de Janeiro, p. to mllrels 8.895 2 13-16 Buenos Aires, p. to dol. 45.577 19.01 Montevideo, p. to dol. 57 20 Bombay, p. to rupee 10 17 51-64 GOVERNMENT SECURITIES (Received June 24, 6.30 p.m.) LONDON, June 23. The following are the latest quotations for Government securities compared with the prices ruling last week:— June 16 June 24 £ s d £ s d British— Consols 74 10 0 74 10 0 Funding Loan, 4 p.c., 1960-90 113 5 0 113 0 0 War Loan. 3>,4 p.c . 101 15 0 101 17 6 Con. Loan. 3’,4 p.c . 102 10 0 102 5 0 Victory Bonds, 4 Jp.c. Jll 10 0 111 10 0 Commonwealth— 5 p.c., 1945-75 105 0 0 104 17 6 4 p.c., 1943-48 101 11 9 101 3 9 3% p.c.. 1948-53 98 5 0 98 0 0 3% p.c., 1956-61 90 7 6 89 17 6 3 p.c., 1955-58 88 1 3 87 15 0 New South Wales— 414 P-C., 1930-50 96 2 6 95 16 3 Victoria— 3 p.c., 1929-49 93 11 9 93 2 6 4% p.c., 1940-60 101 17 6 101 15 0 5 p.c., 1945-75 104 16 3 104 12 6 Queensland — 3 p.c., 1922-47 95 5 0 95 0 0 5 p.c., 1940-60 103 13 9 403 10 0 South Australia— 5 p.c., 1945-75 104 15 0 104 17 6 3 p.c., 1916 (opt.) 75 3 9 75 7 6 Western Australia— 4 p.c., 1942-62 93 12 0 99 17 6 Tasmania— 314 p.c., 1920-40 100 18 9 101 0 0 4 p-C., 1940-50 100 7 6 100 1 3 New Zealand — 414 P-C., 1948-58 99 12 6 99 7 6 314 p.c., 1940 98 6 3 98 7 6 3 p.c., 1945 91 15 0 91 17 6 DAIRI PRODUCE ■ 1 1 (Received June 24, 6.30 p.m.) LONDON, June 23. The butter market is quiet and cheese is firm. Quotations:— BUTTER June 16 June 23 Danish 123/- 125/ - to 126/New Zealand— Choicest salted 124/Unsalted 122/- 124/ - to 125/Australian— Choicest salted 122/Unsalted 123/CHEESE New ZealandWhite 69/Coloured 67/6 69/Australian— White : 66/67/6 Coloured 1 66/68/-